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Important Risk Information
Investing involves risk including the risk of loss of principal.
All forms of investments carry risks, including the risk of losing all of the invested amount. Such activities may not be suitable for everyone.
The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without State Street Investment Management’s express written consent.
The views expressed are the views of the State Street Investment Management Fixed Income and Sustainable Investing teams through July 1, 2025, and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward- looking statements. Please note that any such statements are not guarantees of any future performance, and actual results or developments may differ materially from those projected.
Diversification does not ensure a profit or guarantee against loss.
The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor.
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The returns on a portfolio of securities which exclude companies that do not meet the portfolio’s sustainable strategy criteria may trail the returns on a portfolio of securities which include such companies. A portfolio’s sustainable strategy criteria may result in the portfolio investing in industry sectors or securities which underperform the market as a whole.
Because of their narrow focus, sector funds tend to be more volatile than funds that diversify across many sectors and companies.
Bonds generally present less short-term risk and volatility than stocks, but contain interest rate risk (as interest rates rise, bond prices usually fall); issuer default risk; issuer credit risk; liquidity risk; and inflation risk. These effects are usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss.
Non-diversified funds that focus on a relatively small number of securities tend to be more volatile than diversified funds and the market as a whole. Passively managed funds hold a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. This may cause the fund to experience tracking errors relative to performance of the index.
All information is from State Street Investment Management unless otherwise noted and has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.
Barclays is not affiliated with State Street Global Advisors Funds Distributors, LLC.
Barclays Index License Disclaimer
Barclays Bank PLC has licensed certain systematic strategy indices to State Street Investment Management that incorporate quantitative signals developed by Barclays’ Quantitative Portfolio Strategy (QPS) Research team.
Neither Barclays Bank PLC (“BB PLC”) nor any of its affiliates (collectively “Barclays”) is the issuer or producer of the products referenced herein and Barclays has no responsibilities, obligations or duties to investors in such products. The Barclays Indices referenced herein (collectively, the “Indices”), together with any Barclays indices that are components of such Indices, are trademarks owned by Barclays and, together with any component indices and index data, are licensed for use by State Street Investment Management as the producer of the products referenced herein (the “Product Provider”). The Indices are used by the Product Provider in connection with the management of the products referenced herein, but the Indices are not used by the Product Provider as the benchmark for such products, including as defined under Regulation (EU) 2016/1011 of the European Parliament and of the Council of June 8, 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds.
Barclays’ only relationship with the Product Provider in respect of the Indices is the licensing of the Indices, which are administered, compiled and published by BB PLC in its role as the index sponsor (the “Index Sponsor”) without regard to the Product Provider or the products referenced herein or investors in such products. Additionally, State Street Investment Management as Product Provider may for itself execute transaction(s) with Barclays in or relating to the Indices in connection with such products. Investors acquire such products from the Product Provider and investors neither acquire any interest in the Indices nor enter into any relationship of any kind whatsoever with Barclays upon making an investment in such products. The products referenced herein are not sponsored, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of such products or use of the Indices or any data included therein.
Barclays shall not be liable in any way to the Product Provider, investors or to other third parties in respect of the use or accuracy of the Indices or any data included therein.
Barclays has engaged Bloomberg Index Services Limited as the official index calculation and maintenance agent of the Indices, which are owned and administered by Barclays.
Bloomberg Index Services Limited does not guarantee the timeliness, accurateness, or completeness of the calculations of the Indices or any data or information relating to the Indices. Bloomberg Index Services Limited makes no warranty, express or implied, as to the Indices or any data or values relating thereto or results to be obtained therefrom, and expressly disclaims all warranties of merchantability and fitness for a particular purpose with respect thereto. To the maximum extent allowed by law, Bloomberg Index Services Limited, its affiliates, and all of their respective partners, employees, subcontractors, agents, suppliers and vendors (collectively, the ‘protected parties’) shall have no liability or responsibility, contingent or otherwise, for any injury or damages, whether caused by the negligence of a protected party or otherwise, arising in connection with the calculation of the Indices or any data or values included therein or in connection therewith and shall not be liable for any lost profits, losses, punitive, incidental or consequential damages.
Past performance is not a reliable indicator of future performance.
The trademarks and service marks referenced herein are the property of their respective owners. Third party data providers make no warranties or representations of any kind relating to the accuracy, completeness or timeliness of the data and have no liability for damages of any kind relating to the use of such data.
This document provides summary information regarding the Strategy. This document should be read in conjunction with the Strategy’s Disclosure Document, which is available from State Street Investment Management. The Strategy Disclosure
Document contains important information about the Strategy, including a description of a number of risks.
Backtest Methodology
Backtested Sources: State Street Investment Management, Barclays QPS Research, eVestment. Analysis compares after-transaction-cost back-tested performance series against comparable active US investment grade credit managers. Analysis uses monthly total returns vs. benchmark from July 2019 to March 2025. The information contained above is for illustrative purposes only. Performance is calculated based on monthly total returns for the back-tested model portfolio reflecting transaction cost impact. The transaction costs are based on industry-standard liquidity measures, such as Barclays Liquidity Cost Score (LCS) and/or Bloomberg BVAL, as data sources.
Total returns for the Bloomberg US Investment Grade Corporate Index do not take into account transaction costs. Back-tested performance is the result of applying an State Street Investment Management model to market data that predates the model, in order to yield results that predate the model’s inception (i.e. all data is back tested) OR the results of an State Street Investment Management model, some of which predates model inception, and some of which was generated after model inception. Analysis is done on back-tested performance based on State Street Investment Management’s Model Portfolio Optimization process taking factor inputs from QPS Indices. The back-tested performance presented herein reflects the output of the State Street Investment Management Model Portfolio Optimization process portion of the Systematic US Investment Grade Corporate strategy (the “Strategy”) only and does not reflect or incorporate any potential deviations from the model portfolio at the time of implementation. The data displayed is a hypothetical example of back-tested performance is for illustrative purposes only and is not indicative of the past or future performance of any State Street Investment Management product. Back-Tested Performance does not represent the results of actual trading but is achieved by means of the retroactive application of a model designed with the benefit of hindsight. Actual performance results could differ substantially, and there is the potential for loss as well as profit. The Back-Tested Performance may not take into account material economic and market factors that would impact the adviser’s actual decision-making. The gross performance reflects transaction costs but does not reflect management fees and other fees and expenses a client would have to pay, which reduce returns.
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8176788.4.2.GBL.INST Exp. Date: 07/31/2026
